What Is Pluton (PLU)?

Pluton (PLU) are a digital Ethereum asset (ERC20token) given to Plutus app users as a reward for utilizing the Plutus Tap and Pay app. Plutus is a gateway that connects blockchain technology with pre-existing payment infrastructure. Plutus plans to empower users to make contactless payments using converted Bitcoin at every store with an NFC-enabled point-of-sale (POS) terminal. A  POS terminal is a hardware system used to accept credit cards at retail businesses.

As per its whitepaper, the adoption of Bitcoin by merchants has proven to be a difficult task so far. Users are unable to spend it, and merchants are hesitant to accept it. Retailers are typically reluctant to accept Bitcoin as there is presently no significant Bitcoin point-of-sale (POS) infrastructure. Plutus aims to improve the widespread use of Bitcoin. Ethereum allows Plutus to build smart contracts to enable secure, peer-to-peer (P2P) exchange of conventional currency and Bitcoin over a transparent and decentralized network protocol supported by blockchain. The Plutus Decentralized Exchange Network (PlutusDEX) converts Bitcoin deposits into a prepaid debit balance used at any contactless point-of-sale (POS) terminal. The PlutusDEX fuels the liquidity and decentralized exchange of digital assets such as Bitcoin or Pluton. The application's ideology is open, inclusive, and dedicated to the network's health and widespread adoption of Bitcoin.

Users deposit PLU requests and PlutusDEX matches their order with a trader. Pluton has the advantage of having no fees and the transactions that are almost instantaneous.

History of Pluton (PLU)

Danial Daychopan is the founder, and Jasper Tay is the co-founder of Plutus. Team Plutus has a blended experience of over forty years in payments, financial trade, and software development. The maximum supply of Pluton tokens is 20,000,000 PLU tokens.The whitepaper was published on December 13, 2015 and was authored by Danial.